timwest

GOLD (GLD) update = cover shorts go flat here and wait

AMEX:GLD   SPDR Gold Trust
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Some comments on GOLD ( GLD etf ): IF THIS BIG GAP UP AND CLOSE LOWER DAY CAN'T LEAD TO LOWER PRICES RIGHT AWAY (TODAY), THEN IT IS BEST TO ASSUME THAT WAS A FAKE-OUT. IF THE SELLERS WERE VERY DETERMINED TO SELL GOLD , THEY WOULD HAVE MORE TO SELL AND PRICES WOULD BE HEADING LOWER TODAY. MAKES SENSE.
By: Technical Tim Dec 8, 2011 9:52AMEST
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If you notice, the chart that I published showed a large gap-up and close-down, also known as an "engulfing bar", which is very different from the gap-down, close even lower bar that is shown now. I guess I shouldn't rely totally on TradingView data as it made me change my opinion based on inaccurate data. I suppose I will be more careful next time. I hope it didn't affect any of you. For free advice, so far, we are doing pretty well. Does anyone agree?
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admin timwest
Tim, could you please explain what is the problem with data accuracy? We need to check it for you but I did not understand this based on your description. Thanks.
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